From Business24-7.ae: Saudi banks have intensified a drive to build up their investment abroad as an alternative to a slowdown in their lending to the domestic market because of waning confidence and debt default problems, official figures showed yesterday.
The drive constitutes a turnaround in a policy by most of the kingdom's 12 commercial banks to cut their overseas assets and head back home just after the eruption of the global financial distress in September 2008...............Full Article: Source